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Dec 15, 2016
12/16
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economy. the unemployment rate fell to 4.6% in november, the lowest level since 2007 prior to the recession. measures of major markets move slower and participation in the labor force has been little changed for two years now a further sign of improved conditions in the labor market given the underlying downward trend in participation stemming largely from the aging of the u.s. population. looking ahead we expect job conditions will strengthen somewhat further. turning to inflation the 12 month change in the price of personal consumption expenditures was nearly 1.5% in october. still short of our objective but up more than a percentage point from a year earlier. core inflation which excludes energy and food prices tend to be more volatile than other prices and has risen to 1.75%. as the influences of early declines in energy prices and prices of imports continue to fade and if the job market strengthens further we expect overall inflation to rise to 2% over the next couple of years. our inflat
economy. the unemployment rate fell to 4.6% in november, the lowest level since 2007 prior to the recession. measures of major markets move slower and participation in the labor force has been little changed for two years now a further sign of improved conditions in the labor market given the underlying downward trend in participation stemming largely from the aging of the u.s. population. looking ahead we expect job conditions will strengthen somewhat further. turning to inflation the 12 month...
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Feb 24, 2021
02/21
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economy can really reopen. other countries around the world have the same issues that people will get vaccinated and get the disease under control properly, the second half of this year, the economy could be very good. >> the fact that the savings rate has gone up tremendously in america, does that bode well, perhaps economic activity? >> a lot of that is that people have not been able to spend or travel or two restaurants, forced savings in a way. they'll spend some of that going forward. you are thinking, i think about the fact that the u.s. needs more savings so they have more productivity. it be nice if we had higher savings rate and also would be nice if we didn't have a lot of disk savings at the federal level. it requires a lot of assets, that's something we need to turn to again but this is not the time to be thinking about that. >> thank you. >> thank you, mr. chairman. i want to thank chairman powell, i very much appreciate your right to keep that independent. i know that's been difficult stepped up,
economy can really reopen. other countries around the world have the same issues that people will get vaccinated and get the disease under control properly, the second half of this year, the economy could be very good. >> the fact that the savings rate has gone up tremendously in america, does that bode well, perhaps economic activity? >> a lot of that is that people have not been able to spend or travel or two restaurants, forced savings in a way. they'll spend some of that going...
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Jun 11, 2020
06/20
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we will see the significant incoming data, and the opening of the economy, the reopening of the economy. i would say assuming that the disease remains or becomes pretty much under control, i think what you see is a very weak second quarter, historically weak and expansion that builds momentum over time, people will adjust a little gradually to some of the activities that would involve getting together in large groups in close quarters, those will be the harder parts of the economy to recover but ultimately we see a full recovery over time, that is really what i think i'm personally seen, you can see significant job growth as people return to their jobs but you're still going to face probably an extended period where it will be difficult for many people to find work, that is what you see and really many, many forecasts at this point and it doesn't mean it's right but that's a broad expectation, certainly not the depression forecast. >> thank you chris from the associated press. >> thank you for taking the question. in the projection you didn't change the port in the long run of unappoint
we will see the significant incoming data, and the opening of the economy, the reopening of the economy. i would say assuming that the disease remains or becomes pretty much under control, i think what you see is a very weak second quarter, historically weak and expansion that builds momentum over time, people will adjust a little gradually to some of the activities that would involve getting together in large groups in close quarters, those will be the harder parts of the economy to recover...
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Jul 16, 2011
07/11
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of the global economy. and what is happening in asia is that what we think of as global issues, challenging global issues where there are all kinds of free rider problems that relate to natural resources, the environment, climate change and so on, are starting to be internalized. in the big countries like china. because they are such an important part of the incremental pressure, you know, through prices, through consumption, and through growth. that they are starting to realize, and i think this is new, its new there it is new in the global economy, that addressing these issues isn't so much a global issue for them. it's a question of long-term growth strategy is completing the process, marching to advance country high-technology success. what that means i don't think we've had time to think about, but it changes the incentive structure of the game, or the game sets run sustainability and so on. if there's one or two players or region that is internalized this and the start i because it's in their long-ter
of the global economy. and what is happening in asia is that what we think of as global issues, challenging global issues where there are all kinds of free rider problems that relate to natural resources, the environment, climate change and so on, are starting to be internalized. in the big countries like china. because they are such an important part of the incremental pressure, you know, through prices, through consumption, and through growth. that they are starting to realize, and i think...
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Aug 29, 2017
08/17
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economy, bilateral relationships. i try to come up with 5 practical things, i can't say they will all be adopted. i would put my money on those things and my energy on those things and have less eggs in the basket of bilateral investments. >> vincent wang is with the inside edition. >> thank you for heritage foundation. organizing this important forum for for elevating the awareness of important us taiwan relationships. why good economic proposals make good politics. trying to argue, many ways of looking at us taiwan economic partnerships. and you say a strong relationship, mutually beneficial, the us, taiwan's second trading partner, 23 million, the ninth largest trading partner of the united states, a two way trade between the two economic partners, goods and services, $85 billion last year, $65 billion in the good trade, the us has a deficit with taiwan of $13 billion but if you look at the services which is another $2 billion, the us has a trade surplus of $4 billion so if you look at the total picture it is mutua
economy, bilateral relationships. i try to come up with 5 practical things, i can't say they will all be adopted. i would put my money on those things and my energy on those things and have less eggs in the basket of bilateral investments. >> vincent wang is with the inside edition. >> thank you for heritage foundation. organizing this important forum for for elevating the awareness of important us taiwan relationships. why good economic proposals make good politics. trying to...
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Aug 29, 2014
08/14
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our economy is changed. and it is mostly creating low-wage service jobs. 80% of the jobs the economy is creatings todaying those jobs. so we have a problem in our economy that extends far beyond the challenges of teenagers, to, frankly, americans in their 20s and 30s, who are trying to get by and raise families. and we have to find a way to make sure that the jobs they get pay them enough so that you and i, sir, don't have to make up the difference in food stamps and medicaid and rent assistance and other things. with respect to your second question, do i expect the wage increases to ripple up, absolutely do. and they will. and that's good for everyone. we want wages for everyone in the country to go up, with the exception of people like me, who make tens or hundreds of millions of dollars a year who don't need our wages to go up. we have to find a way to more successfully balance the income of all americans so that we end up with a thriving economy. >> host: from cedar park, texas, kim. >> caller: hi, nick,
our economy is changed. and it is mostly creating low-wage service jobs. 80% of the jobs the economy is creatings todaying those jobs. so we have a problem in our economy that extends far beyond the challenges of teenagers, to, frankly, americans in their 20s and 30s, who are trying to get by and raise families. and we have to find a way to make sure that the jobs they get pay them enough so that you and i, sir, don't have to make up the difference in food stamps and medicaid and rent...
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Apr 9, 2016
04/16
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economy. you have a mandate to provide, with inflation but also that people are employed. why not take extraordinary measures to boost employment or wage growth have n to set a target but that isn't a feeling it is a target. so maybe overshoot the target a little bit now we have under shot at seven years and people wonder why not try to do something that would help the ordinary working people? >> maximum employment and price stability is the mandate congress gave us and we take both parts very seriously. we have had very aggressive monetary policies over the last six or seven years to contemplate the fact in december 2008 we took a short-term overnight interest rate down at zero then engaged in very large scale asset purchases for guidance policies for more stimulus we have done a great deal to foster that rapid recovery. most of my colleagues anticipate unemployment will dip below the levels of the policies we had in place they will see a sustainable. is hairdos see some overshooting in that
economy. you have a mandate to provide, with inflation but also that people are employed. why not take extraordinary measures to boost employment or wage growth have n to set a target but that isn't a feeling it is a target. so maybe overshoot the target a little bit now we have under shot at seven years and people wonder why not try to do something that would help the ordinary working people? >> maximum employment and price stability is the mandate congress gave us and we take both parts...
0
0.0
Sep 9, 2022
09/22
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our broad and inclusive recovery is -- by other economies. mission -- measures of income, our economy continues to expand in levels that wouldn't be projected pre-pandemic. it is fair to say by any traditional metric we have experienced one of the quickest recoveries in our modern history. americans are rightfully concerned with higher prices are squeezing their day-to-day budget and there you longer-term savings. -- and their longer-term savings. this administration's top priority is to come back -- to combat inflation even though we know the federal reserve has the primary role of restoring the price of living. the president and his entire economic team have focused particularly on our supply chain and energy markets. last year when supply chain -- contributed to pressure on prices cobra -- pressure on prices, they recruited more truck drivers in -- to get more on operations. we have released a million barrels of oil a day from the petroleum reserve. the president's rescission has reduced the price of gas by between around 17 and $.42 per g
our broad and inclusive recovery is -- by other economies. mission -- measures of income, our economy continues to expand in levels that wouldn't be projected pre-pandemic. it is fair to say by any traditional metric we have experienced one of the quickest recoveries in our modern history. americans are rightfully concerned with higher prices are squeezing their day-to-day budget and there you longer-term savings. -- and their longer-term savings. this administration's top priority is to come...
23
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Apr 9, 2017
04/17
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it is when economies, when there's lots of failure in the economy that you know an economy is progressing. you need that constant experimentation to get you to better place to people looked at that time. as a negative, but i looked at it as a time in which the world in the u.s. economy were utterly transformed by advances that we could not live without today. the downside to this big drop in equity prices is particularly in the internet economy and suddenly goldman sachs wasn't as interested in my services as they had been a few years ago. [laughter] i will say that was rather devastating at the time. you start question yourself, you start question what kind of person you are, can i ever succeed again, am i doomed for failure, but in fact, it was the best thing that ever happened to me, because i had already caught the bug. i thought i want to be commenting on the economy. i will stress up front i'm not an economist and i wear that lack of phd with the pride. i'm not a journalist either but i thought i have got to write about this. it would paint me to not be in the field of commentary in
it is when economies, when there's lots of failure in the economy that you know an economy is progressing. you need that constant experimentation to get you to better place to people looked at that time. as a negative, but i looked at it as a time in which the world in the u.s. economy were utterly transformed by advances that we could not live without today. the downside to this big drop in equity prices is particularly in the internet economy and suddenly goldman sachs wasn't as interested in...
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Jun 22, 2014
06/14
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by the early seal of free market economies because free-market economies are susceptible to financial boat roles. financial bubbles have a tendency to first. b-bravo occurs of course when a series bid up the price of an asset until it climbs higher and higher and neighbors from investor psychology changes peddling the asset doesn't look like a sure thing coinvestors thresh to get at the outset asset, the price plummets and that can do serious damage to the surrounding economy reexperience what you might call the mother of all financial bubbles bursting in the fall of 2008. this was a bubble centered on the american housing industry. .bursting bubble triggered biggest economic downturn since the great depression, the effects of which are someways filled with the spirit and the american financial system still poses a potential threat because in the wake of the great crisis of 2008, it is more concentrated than ever. we now have fewer financial firms that are larger than was the case before 2008. if anyone of them should get in trouble, that could be significant damage. but the more imme
by the early seal of free market economies because free-market economies are susceptible to financial boat roles. financial bubbles have a tendency to first. b-bravo occurs of course when a series bid up the price of an asset until it climbs higher and higher and neighbors from investor psychology changes peddling the asset doesn't look like a sure thing coinvestors thresh to get at the outset asset, the price plummets and that can do serious damage to the surrounding economy reexperience what...
185
185
Jan 30, 2010
01/10
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other economies. that is a very important factor. when we talk about a globalized world in which large parts of the world are integrated economically into one another. production and trade create relationships and networks between people. sitting outside of that global economic webb has consequences. those consequences have a lot to do with the reality on the ground in the muslim world in profound ways. one of the most important consequences is in many parts of the muslim world in middle-class, that will be the danger of society. we often preached it not to copy, what matters in the west, the protestant reformation. the muslims don't need a lutheran. if you look at european history, it originally e road. scotland in the early reformation period, it is a highly puritanical rigid and in tolerant place. we produced such luminaries, it was not because of religious reformation. it is capitalism that made the west into what is. it was in commerce and trade. there is a middle-class in the arab world. if ther
other economies. that is a very important factor. when we talk about a globalized world in which large parts of the world are integrated economically into one another. production and trade create relationships and networks between people. sitting outside of that global economic webb has consequences. those consequences have a lot to do with the reality on the ground in the muslim world in profound ways. one of the most important consequences is in many parts of the muslim world in middle-class,...
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118
Dec 31, 2012
12/12
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it went from a centralized state of economy to a mixed economy that evolves from central state economy aspects and some market aspects, but not in the manner that actually allowed the market to be efficient at all. >> when did this change occur from centralized next? >> most of these countries, the late developed countries, they underwent a period where they had to actually involve the masses in order to gain support. and legitimacy. when this process, for a variety of reasons began to create problems for the regimes in power, and when external support and pressure for some of these regimes and for some of the directions that were unable at the time moving towards a market economy around the 1980s took place, you saw a lot of these third world regimes, or the global south, begin to move from a central economy to more market oriented economy and the international financial institutions like the imf and the world bank played a role in doing so, because they would literally place condition now is on loans. the conditionality and called moving markets into the economy. >> what role does th
it went from a centralized state of economy to a mixed economy that evolves from central state economy aspects and some market aspects, but not in the manner that actually allowed the market to be efficient at all. >> when did this change occur from centralized next? >> most of these countries, the late developed countries, they underwent a period where they had to actually involve the masses in order to gain support. and legitimacy. when this process, for a variety of reasons began...
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36
Jan 28, 2016
01/16
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that the chinese economy has more driving forces that the of the chinese economy is not based on blind optimism but necessary basis we will use today's platform of the chinese economy and policy direction. first the chinese economy achieves such steady growth as an important driving force to begin with the gdp a medium high growth rate and in 2015 despite the volatility in the world economy titusville achieves the gdp increase of over $500 billion which is estimated to be the largest in the world as has been achieved and a high basis of over 12 trillion economic economy to be one of the fastest time realized a continued improvement replacing the overall economy 13.12 million jobs were created the unemployment rate and the major cities was 5.1% it is one of the lowest since 2009 with an increase of 15.four and 30.3 percentage points higher enduros by a 2.four points that is more than half an iso 17 percentage points higher for unit energy consumption with new product to take shape in the added value of high-tech industries growing much faster than traditional industries and then with us
that the chinese economy has more driving forces that the of the chinese economy is not based on blind optimism but necessary basis we will use today's platform of the chinese economy and policy direction. first the chinese economy achieves such steady growth as an important driving force to begin with the gdp a medium high growth rate and in 2015 despite the volatility in the world economy titusville achieves the gdp increase of over $500 billion which is estimated to be the largest in the...
13
13
Nov 15, 2019
11/19
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economy? >> i would stress these are longer-term challenges, and i think ultimately we would have no choice but to get on a sustainable path. you don't have to pay down the debt or balance the budget. you have to have an economy that is growing faster than the best and you have to do that for ten or 20 years. that is how we have successfully handled this and others in the past. so, if you don't do it, you then will over time, not this year or next year but over time you will be cropping up a private investment and things like that. >> i will yield back my whole 18 seconds. >> i will now recognize the gentleman from new york for three minutes. >> thank you mr. chairman for your presence and your leadership as it relates to the monetary aspects of the u.s. economy. i would first say the manufacturing economy fell into a recession in the first half of this year. >> yes. well, in the sense that manufacturing output has declined in the course of this year. >> and in connection with that manufacturi
economy? >> i would stress these are longer-term challenges, and i think ultimately we would have no choice but to get on a sustainable path. you don't have to pay down the debt or balance the budget. you have to have an economy that is growing faster than the best and you have to do that for ten or 20 years. that is how we have successfully handled this and others in the past. so, if you don't do it, you then will over time, not this year or next year but over time you will be cropping...
10
10.0
Mar 17, 2022
03/22
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eye 10
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financial economic implications for the global economy and u.s. economy are highly uncertain. achieving monetary policy goal congress has given us, maximum price stability. today in support of these goals, they raise policy interest rates by one quarter percentage. the economy is very strong and against the backdrop of an extremely tight labor market and high inflation from a committee anticipates ongoing increases in the target range for the federal funds rate will be appropriate. in addition, we expect to begin reducing the size of our balance sheet. economic activity expanded at a robust five and a half% from last year reflecting progress on vaccinations and reopening of the economy, fiscal and monetary policies support healthy financial positions of household and businesses. rapid spread of the omicron. led to slowing inn economic activity this year by cases declined sharply since mid-january. the slowdown seems to happen mild and brief. although invasion of ukraine and related events represent downside risk to the economic activity from fomc participants foresee how it gr
financial economic implications for the global economy and u.s. economy are highly uncertain. achieving monetary policy goal congress has given us, maximum price stability. today in support of these goals, they raise policy interest rates by one quarter percentage. the economy is very strong and against the backdrop of an extremely tight labor market and high inflation from a committee anticipates ongoing increases in the target range for the federal funds rate will be appropriate. in addition,...
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Jun 19, 2020
06/20
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eye 16
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that is the economy donald trump built in the economy we will bring back. we will do so through the principles and policies that delivered that economy the first time, that includes tax relief and vigilance against unnecessary regulatory burdens so that american businesses could flourish and create the jobs while providing unprecedented opportunities to so many americans just a few months ago. that's why in our last cabinet meeting donald trump signed his executive order on regulatory relief to support economic recovery. ordering federal agencies to take additional steps to ensure regulatory fairness and these regulatory burdens and why the president has been discussing reduction in the payroll tax and other tax relief to incentivize the job growth that can make our job market a sellers market again. these are principles we are already pursuing in the labor department. in the same week as the president's order we took four notable regulatory actions. one of those by itself will save $3.2 billion. how? simply by letting employers give workers information abo
that is the economy donald trump built in the economy we will bring back. we will do so through the principles and policies that delivered that economy the first time, that includes tax relief and vigilance against unnecessary regulatory burdens so that american businesses could flourish and create the jobs while providing unprecedented opportunities to so many americans just a few months ago. that's why in our last cabinet meeting donald trump signed his executive order on regulatory relief to...
0
0.0
Dec 5, 2023
12/23
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and other economies. one thing that's been going on for close to half a a century nw is this rising inequality. and if so, first thing we do is collect and publish a tremendous amount of data with the national accounts that weth do end of the survey of the finance. if you go to the website there's an awful lot of data that we collect and put out about disparities in income and income levels and by all different we are a big source of data on our website. second thing i will say is the thing we can really do, there are two things we can do with our policy that matter. one is to enforce the fair housing laws so we have powers to enforce fair housing laws. they are shared around of the bank regulation but that's an important one. of the second one, and may be the single most important thing we can do is if you look back at the long expansion that ended withex a pandemic, the expansion that's recorded in the u.s. history, ten years and eight months what started happening in the last three years was most of th
and other economies. one thing that's been going on for close to half a a century nw is this rising inequality. and if so, first thing we do is collect and publish a tremendous amount of data with the national accounts that weth do end of the survey of the finance. if you go to the website there's an awful lot of data that we collect and put out about disparities in income and income levels and by all different we are a big source of data on our website. second thing i will say is the thing we...
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72
Sep 22, 2015
09/15
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so we know how to grow the economy. we invest in the economy once again. interest rates are low, debt to gdp is slow and economic growth has been flat. when you do kick starter, mid-october you're going to do so people can get better jobs and afford their homes. that is where we help. mr. mulcair talking about childcare: effect of a young family with a 2-year-old doesn't childcare or eight years from now when their kid in grade five. they need it right away. mr. mulcair is not making investments. we know right now to invest in the future of this country. you could make jokes all you like. this is canadians having trouble making a meet and you are offering a natural minimum wage that will not touch 99%. >> you had 13 years the last time you were in power to get to childcare. they created zero. the least we can say is that wasn't a priority. quality affordable child care -- if the province has taken billions of dollars. >> what message do you get to no one else today trying to get on the property run? >> we've got a prime minister who thinks it's a good idea
so we know how to grow the economy. we invest in the economy once again. interest rates are low, debt to gdp is slow and economic growth has been flat. when you do kick starter, mid-october you're going to do so people can get better jobs and afford their homes. that is where we help. mr. mulcair talking about childcare: effect of a young family with a 2-year-old doesn't childcare or eight years from now when their kid in grade five. they need it right away. mr. mulcair is not making...
0
0.0
Jun 13, 2023
06/23
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it's not involved with the economy included in the faster growing parts of the economy. i will ask you your vantage point interest rates and the housing are still above 6% and i see a little bit of a difference here between the interpretation and what's happening. of those interest rates are meaningful and they do impact the affordability of housing and it's always been one of those anchors off wealth creation. is there any kind of creative action necessary or possible for large financial institutions when your traditional tool may be a macroeconomic policy could be hampered or stymied? >> i should clarify then we believe that we are looking at a modest recession. there's so much information disconnected. we have a labor market to stay strong. unemployment is low. on the flipside there is mixed information. the good news is because of housing and in the meantime large financial institutions their way to open up credit to make it easier for people of low income to access the credit markets the liquidity is there. how can we work together to provide that access for the low
it's not involved with the economy included in the faster growing parts of the economy. i will ask you your vantage point interest rates and the housing are still above 6% and i see a little bit of a difference here between the interpretation and what's happening. of those interest rates are meaningful and they do impact the affordability of housing and it's always been one of those anchors off wealth creation. is there any kind of creative action necessary or possible for large financial...
2
2.0
Dec 17, 2020
12/20
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eye 2
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is that sufficient to help the economy? and you talk about the idea of how concerning the recent surge.w can you for some detail on that quick so much concerned you have where code employment go gdp in the first quarter? >> so on fiscal policy, i would say a couple things, the case for fiscal policy right now is very very strong and i think that is widely understood. the details are entirely up too congress. with the expiration of unemployment benefits and eviction and moratoriums with the virus spreading the way it is, there is a need for household and businesses to have fiscal support. and again i do think that is widely understood. i think certainly we will welcome the work that congress is doing right now is not up to us to judge the work. it is there's and i have a view on the size of it obviously it is a substantial'so bill. with the surge, it is an interesting question. we have, and others, have consistently expected their to be more economic, growth of cases would hold back the economy more than it has. overestimate
is that sufficient to help the economy? and you talk about the idea of how concerning the recent surge.w can you for some detail on that quick so much concerned you have where code employment go gdp in the first quarter? >> so on fiscal policy, i would say a couple things, the case for fiscal policy right now is very very strong and i think that is widely understood. the details are entirely up too congress. with the expiration of unemployment benefits and eviction and moratoriums with...
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146
Aug 19, 2012
08/12
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economy, but it will become increasingly the local service economy. also one of the misunderstanding which is prior to 200085% of the manufacturing jobs were from domestic productivity gains, not of shoring. since 2000 there has been an increase in trade deficit, about 67 percent that has come from productivity. i think of it a bit like agriculture. 25 percent of gdp in fell to ten. that power to growth in manufacturing and productivity gains in manufacturing powered the growth in the economy. >> you know, just penny factor in for a second. one thing, i think $1 versus $19 i'm not sure. that is one type of manufacturing. and in many areas u.s. workers are much more productive. so i think the reason you still have a pretty robust, albeit declined to manufacturing sector is there are a lot of areas where u.s. workers are we more productive. the difference in pay is offset. >> absolutely. we produce more and more goods and more and more have it. >> the other thing that you mentioned earlier was the income. one of the reasons why i think that we have been
economy, but it will become increasingly the local service economy. also one of the misunderstanding which is prior to 200085% of the manufacturing jobs were from domestic productivity gains, not of shoring. since 2000 there has been an increase in trade deficit, about 67 percent that has come from productivity. i think of it a bit like agriculture. 25 percent of gdp in fell to ten. that power to growth in manufacturing and productivity gains in manufacturing powered the growth in the economy....
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Aug 22, 2014
08/14
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eye 31
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at the lower end of the for example we see more of the diversified economy but in the middle, the economies that were more reliant on manufacturing including the automobile industry and we know again that is one of the areas significantly affected. >> host: let's look at the charge from the bea. chart from the bea. nevada the spending for the categories during what is known as the great recession. you can see in this chart the blue area of the timeframe that we are talking about the dark blue number here the drop was motor vehicle spending as you were just talking about gasoline and other energy to is this red line here furnishing and durable household equipment also dropping though not as sharply and food services and accommodations also dropping a bit but not as sharply. we specifically want to hear from the viewers this morning on your spending habits and how they changed during the recession and postrecession. postrecession. for minds are open to do that. we will go to joe calling from new jersey first on the line for him to pen this. good morning. turn down your tv and go ahead with yo
at the lower end of the for example we see more of the diversified economy but in the middle, the economies that were more reliant on manufacturing including the automobile industry and we know again that is one of the areas significantly affected. >> host: let's look at the charge from the bea. chart from the bea. nevada the spending for the categories during what is known as the great recession. you can see in this chart the blue area of the timeframe that we are talking about the dark...
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54
Oct 31, 2019
10/19
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eye 54
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economy is in its 11th year of expansion. the baseline outlook remains favorable. the overall economy is growing at a moderate rate, household spending continues to be strong supported by healthy job market rising incomes and solid consumer confidence. in contrast, business investment and exports remain weak and manufacturing output has declined over the past year. sluggish growth abroad and trade developments have been weighing on those sectors. looking ahead, we continue to expect the economy to expand at a moderate rate reflecting solid household spending and support financial conditions. the job market remains strong. unemployment rate has been near half-century lows for year and and a half. the pace of job gains has eased this year but remain solid. we expected some slowing after last year's strong takes. participation in the labor force by people in the prime working years has been increasing. and wages have been rising particularly for lower paying jobs. people who live and work in lower and middle income communities tell us that many who have struggled to f
economy is in its 11th year of expansion. the baseline outlook remains favorable. the overall economy is growing at a moderate rate, household spending continues to be strong supported by healthy job market rising incomes and solid consumer confidence. in contrast, business investment and exports remain weak and manufacturing output has declined over the past year. sluggish growth abroad and trade developments have been weighing on those sectors. looking ahead, we continue to expect the economy...
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Mar 4, 2017
03/17
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we reside in a global economy. there are investors around the world desperate for exposure to the most economically productive people on earth. if it shrinks the supply of dollars in those banks it would be made up instantaneously around the world. the broad point here is that it quite simply cannot increase money and credit in locales where there's not a lot of productivity and that are struggling economically as a result. much the same, there is no need for them. they are fighting to head exposure to it. they quite simply cannot do what its critics and its supporters say can do. all which brings us to the austrian school. it's an the exclusive attribute. despite that in the book many modern austrians have made the argument that the major u.s. economic booms of the 20th centurywere a creation of an easy central bank creating excess credit in basically putting the economy and a sugar high. they also argued that the mine --dash the rice creating easy credit. my point in the book is that this is an example of the aus
we reside in a global economy. there are investors around the world desperate for exposure to the most economically productive people on earth. if it shrinks the supply of dollars in those banks it would be made up instantaneously around the world. the broad point here is that it quite simply cannot increase money and credit in locales where there's not a lot of productivity and that are struggling economically as a result. much the same, there is no need for them. they are fighting to head...
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22
Jun 22, 2020
06/20
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quote unquote economy as part of politics. that only those that can understand and interpret? and that is a contest and we have seen in the last year and with those last two climate strikers in europe to write something that hasn't been included and may be that is optimistic to be a part of the story so that will not be a driving force behind the trump administration but we are seeing in some places like south korea and the new deal with the recovery measure and this is very complicated and controversial in some way the what has been neglected for so long and is the basis and people are raising that point and with that object of which we are already starting to see with iphones across the world and the hurricanes are coming up is felt to understand that political economy that is a part of nature thinking seriously that recoveries tend to do and for gdp about what direction that takes. >> a couple of points so what i consider an enormous victory the federal reserve board has hugely change the way he thinks and talks about the e
quote unquote economy as part of politics. that only those that can understand and interpret? and that is a contest and we have seen in the last year and with those last two climate strikers in europe to write something that hasn't been included and may be that is optimistic to be a part of the story so that will not be a driving force behind the trump administration but we are seeing in some places like south korea and the new deal with the recovery measure and this is very complicated and...
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0.0
Jan 10, 2023
01/23
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, the kind of things that the balance in the economy that does the economy in during a recession exacerbates them down and makes them worse. you see imbalances but not at this time and it's a slow session. >> mark zandi joining us about questions on the economy and all on the democrat, republican, or independent line. if you want to text us, (202)748-8003. mr. zandi, you talked about the fed and attitudes towards rates and we'll see rates but maybe not as high this coming year and if that's the case >> it's going to raise rates more and very aggressively last year in 2022. it's hard to l believe but you o back to this time last year, the federal funds rate target that's the interest rate that the reserve directly controls and that was close to zero, close to zero and now sitting somewhere 4.25, 4.5% and that's a pretty big change in a short period of time. investors and financial markets are expecting the fed to raise rates another half percentage point over the next couple three months andhs by spring the funds target is at zero and close to 5%. just for context, the best estimates of the i
, the kind of things that the balance in the economy that does the economy in during a recession exacerbates them down and makes them worse. you see imbalances but not at this time and it's a slow session. >> mark zandi joining us about questions on the economy and all on the democrat, republican, or independent line. if you want to text us, (202)748-8003. mr. zandi, you talked about the fed and attitudes towards rates and we'll see rates but maybe not as high this coming year and if...
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Mar 12, 2012
03/12
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economy. it's my amendment 1812 that would stop a tax increase on american businesses that are creating clean energy jobs by extending the energy tax cuts. the energy tax credits that have been so important to stimulating the diversity of opportunity for us in terms of energy sources and things are beginning to move. it would be such an error to stop or slow this down at this point. we have right now over 26 different national organizations who have endorsed this, and more are coming, but let me just mention a few. the national association of manufacturers, the u.s. chamber of commerce, the american wind energy association, the solar energy association, the alliance for clean energy, biotech industry association, renewable fuels. it goes on and on. a number of folks understand this means jobs, including the united steelworkers and also the propane gas association, national electric manufacturers, national wildlife association, sierra club, league of conservation voters. the list goes on and on
economy. it's my amendment 1812 that would stop a tax increase on american businesses that are creating clean energy jobs by extending the energy tax cuts. the energy tax credits that have been so important to stimulating the diversity of opportunity for us in terms of energy sources and things are beginning to move. it would be such an error to stop or slow this down at this point. we have right now over 26 different national organizations who have endorsed this, and more are coming, but let...
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48
Feb 19, 2017
02/17
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as a rule, it we can the economy. that's the case because it governments once again cannot spent prosperity. they can only miss allocate -- when you buy house your purchase doesn't make you more productiv. , doesn't open up foreign markets or lead to cancer cures that elongate life, doesn't lead to software innovation that make us more productive or expand time. housing is consumption that reduces the amount of capital available for entrepreneurs anda businesses to expand.hich the average point to believe it stimulated the stock market boom you have to believe that the deepest markets in the world populated by the most sophisticated investors in the world were tricked by something th plainly with economic growth. it's the very idea that defense what were all about. that these guys could trip the smartest markets in the world, i get all the responses. one of my favorite came from an economist who said you're not an economist, the fed signal to address that we got your back. will keep us markets propped up. he he added
as a rule, it we can the economy. that's the case because it governments once again cannot spent prosperity. they can only miss allocate -- when you buy house your purchase doesn't make you more productiv. , doesn't open up foreign markets or lead to cancer cures that elongate life, doesn't lead to software innovation that make us more productive or expand time. housing is consumption that reduces the amount of capital available for entrepreneurs anda businesses to expand.hich the average point...
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0.0
Nov 22, 2022
11/22
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let's talk a little bit about the place of economy hall. >> economy hall in 1836 was a small house in 185720 years later they decided to build a grand home. they heard other translations have hall's and it was across the street from original building. it became the center of the community and there were philharmonic performances and is the civil war approached it becameal political so they had o talk about the suffrage movement in the 1860s and the black man having the vote in the voter registration drive so it became very important community. that community basically survived. my father when he discovered those journals on the back of the truck he discovered them because friend was part of the economy society. he said they were getting every rid of everything that was in there. so the storytelling was no more than 100 years. >> and yet now we talk about the physical document. your father took them and you describe beautiful he and building a cover to put the men and staining it and very likely having a house thatuc was elevad when katrina for example did noe damage the documents whic
let's talk a little bit about the place of economy hall. >> economy hall in 1836 was a small house in 185720 years later they decided to build a grand home. they heard other translations have hall's and it was across the street from original building. it became the center of the community and there were philharmonic performances and is the civil war approached it becameal political so they had o talk about the suffrage movement in the 1860s and the black man having the vote in the voter...
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18
Apr 20, 2018
04/18
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economy via exports. however, the tariffs on steel and aluminum imports and the recent announcement of planned tariffs on certain goods imported from china, as well as the ongoing renegotiations of the north american free trade agreement, add uncertainty to the trade picture. this uncertainty may not be resolved quickly. assessing the impact on the u.s. macroeconomy will ultimately depend on how other countries react, including whether they impose their own tariffs or other trade barriers in response. i am monitoring trade developments, and while i see them as a risk to the forecast, at this point they have not led me to change my outlook for the overall economy. business sentiment remains high and firms will gain from the tax changes passed in december. the recently passed federal budget and spending appropriation bills will add further fiscal stimulus in the form of increased federal spending. at this point, it is difficult to be precise about the magnitude and timing of the effect of these fiscal polic
economy via exports. however, the tariffs on steel and aluminum imports and the recent announcement of planned tariffs on certain goods imported from china, as well as the ongoing renegotiations of the north american free trade agreement, add uncertainty to the trade picture. this uncertainty may not be resolved quickly. assessing the impact on the u.s. macroeconomy will ultimately depend on how other countries react, including whether they impose their own tariffs or other trade barriers in...
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Aug 12, 2019
08/19
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economy. he spoke at the national economist club luncheon in washington, d.c. [inaudible conversations] [inaudible conversations] >> ladies and gentlemen welcome to the press club and welcome to the national economist club 2019 summer signature event. i am cliff and i'm this year's president of the national economist club and i'm happy to say that we are having a better year or weekly lunch program has great attendance with the wonderful diversity in her field. but today we come to one of our two major events of the year, our summer signature program. and i need to think to friends who sponsor and made today's great event worthwhile. first of all my friends and forum. in forum is a research and consulting progra firm that hasn open for 52 years and very much embodies the great tradition of innovated economic research at the university of maryland. secondly our friends at the national association of realtors, since 1908, they have been the voice of the real estate community of washington and pr
economy. he spoke at the national economist club luncheon in washington, d.c. [inaudible conversations] [inaudible conversations] >> ladies and gentlemen welcome to the press club and welcome to the national economist club 2019 summer signature event. i am cliff and i'm this year's president of the national economist club and i'm happy to say that we are having a better year or weekly lunch program has great attendance with the wonderful diversity in her field. but today we come to one of...
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534
Dec 6, 2010
12/10
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the question, what's the economy? you see the median wage -- and i keep going back to this because i think if you define an economy from the ground up, as what do most people experience in terms of their wages and their benefits, median wages and benefits, late 40s, '50s, early '60s kept going up as a very remarkable pace and then happened in the late '70s particularly after 1980, stagnation this was not -- >> but a lot of people felt at the end of the '70s what they were experiencing was not very pleasant and they voted for reagan on the basis of that. and you're suggesting here that somehow a system was subverted because of inflation caused by oil. it seems -- is that not an overly simplistic explanation of carter economics. >> is that overly not simplistic? is that just a rhetorical question. >> i'm sorry. >> i don't think it's overly simplistic. you look at the data i think the economy from the standpoint of the average working person was functioning very well except for by the late '70s double-digit inflation bro
the question, what's the economy? you see the median wage -- and i keep going back to this because i think if you define an economy from the ground up, as what do most people experience in terms of their wages and their benefits, median wages and benefits, late 40s, '50s, early '60s kept going up as a very remarkable pace and then happened in the late '70s particularly after 1980, stagnation this was not -- >> but a lot of people felt at the end of the '70s what they were experiencing was...
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0.0
Jul 7, 2022
07/22
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hall" "economy hall." fatima and jennifer please take it away. >> how low fatima. hello everybody. thank you so much for being with us. i'm incredibly excited to have the chance to spread the word about thisnc remarkable book whh i've been talking with the team about for some years now. which has surpassed my every expectation in being a work of history that is an enormous leap covering aor lot of ground of tremendous importance and yet so readable and fun. it's a very complex piece of work and i thought the best placewo to begin would be where you begin fatima at the inception. tell us how this book came to be. it's a story that begins with your father. >> thank you jennifer and thanks everybody. up we found some journals we brought them home with i was already a writer but i saw all of these journals and realized this was about history. >> can you describe what are the journals station that them? >> guest: the meeting of economies and organization of black meant that started in 1836 and what i realized a
hall" "economy hall." fatima and jennifer please take it away. >> how low fatima. hello everybody. thank you so much for being with us. i'm incredibly excited to have the chance to spread the word about thisnc remarkable book whh i've been talking with the team about for some years now. which has surpassed my every expectation in being a work of history that is an enormous leap covering aor lot of ground of tremendous importance and yet so readable and fun. it's a very...
5
5.0
Dec 2, 2021
12/21
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eye 5
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it drives up the cost of petrochemicals in the economy. outsourcing makes us more dependent on other foreign sources. as important to hear from both of you today in fact this is the final remnant of the act the fact that you are mandated to appear before us on a quarterly basis of the programs that have now been rescinded but this is the final remnant of the act and it's signed by the president of last year. we look forward to hearing about this broad economic question that we are all very concerned about and as we discussed the policies and what we are doing to address them i hope we can talk about solutions, not just the problem and with that, i will yield back. you are now recognized for one minute. >> to create nine facilities several of which were supported by the fund of the treasury. but i'd also like to make a note that currently unemployment and is up 7.5%, higher than the national average of 4.6% and 4% of white. we must ask in view of how it still varies dramatically across the races, what more can the federal reserve do. as a m
it drives up the cost of petrochemicals in the economy. outsourcing makes us more dependent on other foreign sources. as important to hear from both of you today in fact this is the final remnant of the act the fact that you are mandated to appear before us on a quarterly basis of the programs that have now been rescinded but this is the final remnant of the act and it's signed by the president of last year. we look forward to hearing about this broad economic question that we are all very...
11
11
Jul 29, 2021
07/21
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economy. he announced they would hold its benchmark interest rate near zero. mr. powell also answered questions on rising inflation, the labor market and the impact of the pandemic on the u.s. economy. >> good afternoon. at the federal reserve we're strongly committed to achieving the monetary policy goals that congress has given us, maximum employment and price stability. today the federal open market committee kept interest rates near zero and maintained our asset purchases. these measures, along with our strong guidance on interest rates and our balance sheet will ensure that monetary policy will continue to support the economy until the recovery is complete. progress in vaccinations and unprecedented fiscal policy actions are also providing strong support to the recovery. the indicators of economic activity and employment have continued to strengthen and real gdp this year appears to be on track to post i.t. its fastest rate of interest in decades. most of this is bounce back from depresse
economy. he announced they would hold its benchmark interest rate near zero. mr. powell also answered questions on rising inflation, the labor market and the impact of the pandemic on the u.s. economy. >> good afternoon. at the federal reserve we're strongly committed to achieving the monetary policy goals that congress has given us, maximum employment and price stability. today the federal open market committee kept interest rates near zero and maintained our asset purchases. these...
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26
Apr 25, 2020
04/20
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infection, shut down part of the economy again so overall it could be a very bad year for the us economy but the public health response and our ability to make sure hospitals have the equipment we needed the scientific establishment is putting all its resources into addressing this disease will be the most important determinant of how long and deep this downturn is. having said that there are other components to the response, let me talk about the fiscal response and spent most of my time on how the federal reserve is responding to this crisis but fiscally, we are not really talking here about a stimulus package because people can't go out and shop. we are talking emergency relief, making sure people can survive this period, businesses that are losing revenue can pay their bills. and partially clear sounded. we store economic activity. that was a big part without the fiscal program that addresses health needs. and the fiscal program trying to provide life support, with a better grip on the disease. the direct payments to individuals, in this period. are we getting money with people fast
infection, shut down part of the economy again so overall it could be a very bad year for the us economy but the public health response and our ability to make sure hospitals have the equipment we needed the scientific establishment is putting all its resources into addressing this disease will be the most important determinant of how long and deep this downturn is. having said that there are other components to the response, let me talk about the fiscal response and spent most of my time on...
0
0.0
Dec 6, 2022
12/22
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in particular the economy of the united states. in the ecs, hardwood easiest and constitutionally least problematic heroes is to deploy the disk coordination to achieving industrial policies. this regard republic california for the cafÉ standards and we see the agreement with the car manufacturers, only see their greenhouse gas initiative the me the first push offshore wind is regional and if you have a coalition, california, and the west coast states of new york new jersey and new england and of illinois, contributing a set of standards, licensing conditions and approval conditions and incentives and that is a massive source of power. and much more problematic setting high standards towards more economy for the roughly half of the population that lives here. we appropriately i think think of the federal system because of all of the people who went outside of reasonably social democratic arrangements but what about the top of the people of might actually go there. and again, the references earlier to the 19th century, the first pu
in particular the economy of the united states. in the ecs, hardwood easiest and constitutionally least problematic heroes is to deploy the disk coordination to achieving industrial policies. this regard republic california for the cafÉ standards and we see the agreement with the car manufacturers, only see their greenhouse gas initiative the me the first push offshore wind is regional and if you have a coalition, california, and the west coast states of new york new jersey and new england and...
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65
Oct 8, 2016
10/16
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, emerging economies, we've seen the economies leveraged up. the funds numbers are 250% of global gdp, our numbers are a lot higher than that. but inevitably, we've seen this long trend of ever more indebtedness. but we've seen productivity decline. how do you think about it? do you worry about the amount of debt that is growing and our capacity to to service that debt? >> well, there are two parts to the answer. the one is that in terms of the capacity to service the debt, debt service has not gone up anything like the amount the debt has gone up because interest rates are very, very low. and so the interest burden which is the servicing burden is not, has not, has not risen anywhere like the numbers which have doubled and so forth for debt. but interest rates are very low, and i don't think i'm revealing any secrets if i say that this this -- that at least one member of the federal reserve board thinks that interest rates will be higher five years from now than they are today. and that will make a difference to the amount of debt servicing. s
, emerging economies, we've seen the economies leveraged up. the funds numbers are 250% of global gdp, our numbers are a lot higher than that. but inevitably, we've seen this long trend of ever more indebtedness. but we've seen productivity decline. how do you think about it? do you worry about the amount of debt that is growing and our capacity to to service that debt? >> well, there are two parts to the answer. the one is that in terms of the capacity to service the debt, debt service...
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17
Apr 11, 2019
04/19
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we are a free market economy. the government doesn't run the economy in this country. maybe we can talk about green new deals and socialism, one of my favorite topics to talk about. but it's individual men and women ownerring in the economy, using -- operating in the economy, using their god given talents to be entrepreneurs, to be great workers, inventers. as long as we give them the freedom to produce, i believe our future is unlimited, absolutely unlimited. i'm the quintessential optimist. i learned it from ronald reagan 35 years ago, and i'm still there. >> do you think fed chairman jerome powell is doing a good job? >> i do. i know we've had some discussions about that in recent weeks -- >> discussions with him? >> we've just had a lot of discussions, it's been very exciting. [laughter] >> tell us about those discussions. >> i started my career at the federal reserve. that's a little known factoid. i was 13 at o to mb, so i was at the new york fed at 19, freshly minted princeton grad student person. so i have a long history with the fed. look, it's obviously well
we are a free market economy. the government doesn't run the economy in this country. maybe we can talk about green new deals and socialism, one of my favorite topics to talk about. but it's individual men and women ownerring in the economy, using -- operating in the economy, using their god given talents to be entrepreneurs, to be great workers, inventers. as long as we give them the freedom to produce, i believe our future is unlimited, absolutely unlimited. i'm the quintessential optimist. i...
203
203
Sep 19, 2009
09/09
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if you are a strong economy you can and force government the when you are a weak economy, when your economy is in shambles like ours is, you can't afford it. we are too broke to afford it. all the time the weekend afford more government for bigger government, is right now. if you talk about shrinking government, we can't do that, we can't shrink government because if we lay government workers off there is more unemployment. temporarily, maybe, but how are government workers gaining unemployment? they are usurping resources from the private sector. those government jobs exist at the expense of private sector jobs, at the expense of jobs that might actually produce things because government workers aren't producing anything. that has to come from the productivity of others. if people were actually producing, the lower our standard of living. we are not going to continue to confine and the rest of southeast asia and the world, not just production goods, look at the oil we import. we will not import all of this oil and they for it with paper. that will come to an end and prices are going to go
if you are a strong economy you can and force government the when you are a weak economy, when your economy is in shambles like ours is, you can't afford it. we are too broke to afford it. all the time the weekend afford more government for bigger government, is right now. if you talk about shrinking government, we can't do that, we can't shrink government because if we lay government workers off there is more unemployment. temporarily, maybe, but how are government workers gaining...
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173
Jul 13, 2009
07/09
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economy is a huge economy. it's the biggest in the world, and you have the reserve currency. a lot of people are almost fighting to have dollars in their central banks. so, as long as the rest of the world believes that the people who create this money, the federal reserve, believe there is trust in the dollar and you can have a trust between the dollars moving around in your economy and not get into a bankruptcy situation. when that trust falls to the ground you will have a problem and have a run on the dollar which will be diminishing value in the dollar enormously likened the pound in the 50's and 60's. >> geithner said the fed when he was a member of the new york fed didn't have any kind of the real power to do certain things that would have had averted the financial crisis and lately eliot spitzer has been saying the fed does have a lot of power but it didn't have the political will to exercise its and now there have been all these reports about the fierce lobbying effort that the banks and the financial institutions are exerting on our politicians to try to make sure th
economy is a huge economy. it's the biggest in the world, and you have the reserve currency. a lot of people are almost fighting to have dollars in their central banks. so, as long as the rest of the world believes that the people who create this money, the federal reserve, believe there is trust in the dollar and you can have a trust between the dollars moving around in your economy and not get into a bankruptcy situation. when that trust falls to the ground you will have a problem and have a...
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80
Feb 17, 2014
02/14
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i thought tran mitted from one part of the economy to the global economy to the aggravate economy. a lot of work in the area is -- excuse me, very much applicable to whatever kind of model you have been thinking of. whether you think of aggravate demand or aggravate supply model. a lot of these amply indication and transmission mechanism. a lot of modern economics i think tell the important thing. these are important areas of modern economics even if you think that the real shock in conventional model as well -- they're one sector model. but the argument has been that we're interested in macroshocks. aggravate shocks. literally affecting the entire economy. and the argument is that it requires an aggravate shock. that is if you think about the economy ising with a bunch of sectors. then the argument traditionally was that shocks to the sectors will cancel out. . . the top 50 firms their sales as a fraction of gdp was 25%, so 50 firms and you've got 25% of gdp in terms of sales so when you have so many sales coming perhaps they can start to make a difference for the economy. you tak
i thought tran mitted from one part of the economy to the global economy to the aggravate economy. a lot of work in the area is -- excuse me, very much applicable to whatever kind of model you have been thinking of. whether you think of aggravate demand or aggravate supply model. a lot of these amply indication and transmission mechanism. a lot of modern economics i think tell the important thing. these are important areas of modern economics even if you think that the real shock in...
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37
Aug 11, 2020
08/20
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major economies. they become more quickly. there no closer to normal levels of activity than most other economies in the world. so why is that. why didn't we see a financial crisis. in his recovery was quicker than other economies. while this brings me back to some of the senate recognized sources of strength in china's economy. because they are well-funded, can afford to give forbearance to companies. they can say, you can pay us back this quarter is fine you can paste back next quarter or maybe even next year. china's leaders because they can all the lever of the enterprises, have a powerful cyclical instrument. if you don't let go of any of your work, maybe even hire more workers. and start investing. because i can do that, they didn't prevent financial crisis breaking out . they can manage the downturn and shallower and recover quicker than other economies in the world. that is why i think the china is the bubble that never pops. i'm going to head back to scott to hear from some of our great discu
major economies. they become more quickly. there no closer to normal levels of activity than most other economies in the world. so why is that. why didn't we see a financial crisis. in his recovery was quicker than other economies. while this brings me back to some of the senate recognized sources of strength in china's economy. because they are well-funded, can afford to give forbearance to companies. they can say, you can pay us back this quarter is fine you can paste back next quarter or...
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30
Jul 19, 2020
07/20
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that's emerging economies. you see the tension that needs -- so my appeal to the readers of the book, take all that material that is there, but focus on chapter 11, i believe, where tom is again -- war gaming a crisis and there's some of these issues that he himself has described are listed that need to be taken up by these policymakers. they're strong, they're flexible but they've their work cut out for them. thanks. >> terrific. let's turn now to ann. >> i want to express my gratitude to scott kennedy and csif for including me and any views on china which you do frequently and liberally, and i take the pledge. i really liked tom's book very much. i want to read it again. but he deserves to be paid for it and oxford university press is a great press and also do deserve the income. at professional and personal level i like the book them first -- i think it shifts the dialogue about china's economy in to the important ways. before i say that the first thing i want to say is by walking us through the four cycles
that's emerging economies. you see the tension that needs -- so my appeal to the readers of the book, take all that material that is there, but focus on chapter 11, i believe, where tom is again -- war gaming a crisis and there's some of these issues that he himself has described are listed that need to be taken up by these policymakers. they're strong, they're flexible but they've their work cut out for them. thanks. >> terrific. let's turn now to ann. >> i want to express my...
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13
Dec 24, 2020
12/20
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eye 13
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and while china is a larger economy in the 40s kia economy in these policymakers. this rely on the country. if and let me just stress some of these issues there that i feel in your overall summary, leading to very optimistic bubble that never pops in the headline that is on the screen. it's real really little bit under rated. basically two broad areas. i think one is that the ability to have all hands on deck. they can handle any problem anytime. the top-down approach. it is happening right now . but it also comes with risk . yourself pointed to the overshooting that can happen if you put all of your eggs in one basket read in the stimulus after the global financial crisis is a good example. the way too far but in hindsight we know that. and abroad a lot of problems and narrow the policy space moving forward. you're well aware of addressing it. i'm also, you have an episode where in the book, the one - policy . that is an example of the longer-term rigidity. it's flexible at times but other times it's not. so on the policy making part, it is important the policymak
and while china is a larger economy in the 40s kia economy in these policymakers. this rely on the country. if and let me just stress some of these issues there that i feel in your overall summary, leading to very optimistic bubble that never pops in the headline that is on the screen. it's real really little bit under rated. basically two broad areas. i think one is that the ability to have all hands on deck. they can handle any problem anytime. the top-down approach. it is happening right now...
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Feb 15, 2017
02/17
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CSPAN2
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economy. >> why is the economy growing so slowly? >> the potential to grow is largely determined by the growth of the labor force and productivity growth output into the labor force growth is relatively slow and productivity growth in recent years has been depressingly slow. but i guess over the last six years grown at an average of only one half a percent each year. >> the almost at full employment r&d tax >> the economy for a number of years has been growing faster than the resource growth and productivity growth would have allowed into the labor market has been tightening and coming down and it's been diminishing. >> that should help the economy. >> it's enabled us to grow at roughly 2% each year and the fact that it's diminished at 2%. >> do you consider that acceptable for the economy? >> i certainly wish that it were faster. but we have seen as i said the productivity growth. >> why is that? >> nobody is certain. therthere's a number of elemente have seen played a role and some people think the pace of change -- >> it could be
economy. >> why is the economy growing so slowly? >> the potential to grow is largely determined by the growth of the labor force and productivity growth output into the labor force growth is relatively slow and productivity growth in recent years has been depressingly slow. but i guess over the last six years grown at an average of only one half a percent each year. >> the almost at full employment r&d tax >> the economy for a number of years has been growing faster...